Lots of those things out there, they made essentially the same models for many years.
Parts for them are fairly easy to find if needed, but be sure to get one complete with a full set of change gears since buying them individually after the fact can get a bit expensive. Don't know how much use -and wear- it has but make sure the half nuts (they engage the lead screw to the carriage for threading and fine feeding) are in decent shape or check to see if they are available before you buy it. I have a smaller version of that lathe made in the 1940's and had to make a new set of half nuts because I couldn't find any available at the time I needed them. Check to see if the spindle bearings are good, if they're taper bearings there isn't much problem finding new ones, but bushing bearings used on the earlier models will probably need to be made (not hard, but takes a bit of knowledge to do it right).
Working with it is pretty much the same as working with any metal lathe, it's more the operator than the machine that determines how difficult it is when using older metal lathes of an kind. I consider most of the Atlas/Craftsman stuff I've seen to be light duty lathes, but I haven't seen enough of them to make any general statement about them.